Americans Spent More Than $53 Billion on Pets in 2012

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Despite a dragging economy and high unemployment in the U.S., it appears that we are not transferring our collective belt-tightening onto our pets. According to the Associated Press, Americans spent more than $53 billion on pets in 2012 - a new high.



The figure represents a 5-percent increase from 2011, when American pets spending exceeded $50 billion for the first time.

Of the total amount, about two-thirds was spent on food and veterinary care. But spending on other products and services grew at increased rates. For example, spending on supplies and over-the-counter medicine grew more than 7 percent. Money spent on luxuries like grooming, boarding, hotels and petsitting rose about 10 percent.

The American Pet Products Association is predicting a similar total bump of about 4 percent this year. Clearly, while Americans continue to bicker about who's to blame for the struggling economy, we can all agree our pets aren't responsible, and we're proving it by not slowing down our spending on them any time soon.

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