By Millie Munshi Nov. 17 (Bloomberg) -- Copper prices fell the most in almost a week on signs that the global economic slump is deepening, threatening demand for the metal used in pipes and wires. Japan's economy, the world's second biggest, slid into a recession in the third quarter, the first since 2001, a report showed today. Manufacturing in New York state contracted this month at the fastest pace on record, the Federal Reserve Bank of New York said. Copper lost as much as 5.1 percent today. ``Weak economic news is definitely bad news for copper,'' said Michael K. Smith, president of T&K Futures & Options in Port St. Lucie, Florida. ``This market is pricing in a worst- case scenario.'' Copper futures for March delivery fell 6.7 cents, or 3.9 percent, to $1.648 a pound at 9:32 a.m. on the Comex division of the New York Mercantile Exchange. A close at that price would mark the biggest percentage drop for a most-active contract since Nov. 11. On the London Metal Exchange, copper for delivery in three months lost $168, or 4.4 percent, to $3,652 a metric ton ($1.66 a pound). To contact the reporter on this story: Millie Munshi in New York at mmunshi@bloomberg.net.

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