Orders for durable goods sank 2% in November, the government said Monday. This is the biggest decline since May. Economists had expected a strong 1% rebound in durable orders in November as a result of the end of the General Motors GM, -0.03% strike. But orders were dragged down by weaker demand for from the defense sector. Orders in October were revised lower to a 0.2% gain from the prior estimate of an 0.5% increase. What happened: Orders for defense aircraft and parts plummeted 72.7% in November. Stripping out defense goods, orders were up 0.8%. Orders for total transportation equipment fell 5.9% in November. ... (full story)