U.S. Trade Deficit Widened to Record $61 Bln in Feb.

The U.S. trade deficit surged to a record $61 billion in February, driven by a jump in oil prices and imports of Chinese textiles as well as foreign-made pharmaceuticals.

The 4.3 percent increase in the trade gap for goods and services followed a 5 percent rise in January to $58.5 billion, the Commerce Department said today in Washington. The February number compares with a median forecast of $59 billion in a Bloomberg News survey of 68 economists.