July 29 (Reuters) - London copper prices slipped from a three-week high on Friday and were on track for their fourth straight monthly decline, as growing recession fears and an elevated U.S. dollar sapped demand for the metal.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange was down 0.4% at $7,729 a tonne, as of 0245 GMT, after hitting its highest since July 8 at $7,830 in the previous session.

* Copper prices were down about 6.5% so far this month, tracking their worst monthly run of losses since August 2015.

* The most-traded September copper contract on the Shanghai Futures Exchange rose 0.6% to 59,500 yuan ($8,818.34) a tonne.

* The dollar rose to its highest in nearly two decades earlier this month, making greenback-denominated metals more expensive for other currency holders.

* The U.S. economy unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, raising the risk that the economy was on the cusp of a recession.

* Sharply higher interest rates, red-hot inflation and a prolonged energy crisis are leading to conviction that the world economy is headed inexorably towards recession.

* Japan's factories ramped up output at the fastest pace in more than nine years in June as disruptions due to China's COVID-19 curbs eased.

* Copper prices are expected to rebound further in the coming months after heavy losses, a Reuters poll showed, as China unleashes more infrastructure spending and other stimulus for the economy.

* Investors awaited China's Politburo meeting, which is likely to be convened later in the day, for cues about more stimulus for infrastructure projects that could strengthen metals' demand.

* COLUMN-China lifts exports as West runs short of lead and zinc: Andy Home.

* Russian metals producer Nornickel said on Thursday its second-quarter nickel production fell by 6% quarter-on-quarter to 48,472 tonnes due to scheduled annual maintenance at its Harjavalta refinery in Finland.

MARKETS NEWS

* Asian stocks took their cue on Friday from a late rally on Wall Street, as markets focused on a possible slowdown in the pace of rate hikes.

DATA/EVENTS (GMT)

0530 France GDP Preliminary QQ Q2

0645 France CPI (EU Norm) Prelim YY July

0755 Germany Unemployment Chng, Rate SA July

0800 Germany GDP Flash QQ SA, YY NSA Q2

0900 EU HICP Flash YY July

0900 EU HICP-X F&E Flash YY July

0900 EU GDP Flash Prelim YY, QQ Q2

1230 US Consumption, Adjusted MM June

1400 US U Mich Sentiment Final July

PRICES

Three month LME copper

Most active ShFE copper

Three month LME aluminium

Most active ShFE aluminium

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

($1 = 6.7473 Chinese yuan) (Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu Sahu)