Pet spending hits new high
Americans spent more than $53 billion on their furry friends in 2012.
People may have been feeling the pinch from a tough economy in 2012, but they didn’t pass it on to their pets.
Instead, Americans spent a new record of $53 billion on their four-legged friends last year, according to the American Pet Products Association. That’s a five percent increase over 2011, when the number hit $50 billion.
The number includes a 10 percent increase in spending on luxuries like grooming and hotels.
People shelled out about $34 billion on food and vet care - about two-thirds of total spending.Funds spent on supplies and medications rose more than seven percent. Pet owners also hedged their bets on alternative vet care like acupuncture, spending about $12.5 billion.
— Read it at PawNation
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Photo: Pet spending hits all-time high / Jamie Grill/JGI/Getty Images
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