Copper Retreats as European Growth Concerns Dim Demand Outlook
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Copper futures dropped the most in four weeks amid concern that persistent economic weakness in Europe will undercut demand for the metal.
A report today showed the euro-area’s economy shrank in the third quarter, slipping 0.1 percent from the previous three months and confirming data from last month showing the currency union fell into a recession. The European Central Bank cut its forecast for 2013 to a contraction of 0.3 percent, rather than expected growth of 0.5 percent.