Americans spend big on pets

February 25, 2013 7:36:32 PM PST
Americans may be watching their budgets, but they are big spenders when it comes to their pets.

Animal lovers spent about $53 billion on food, veterinary care, kennels and other services last year, up 5 percent from the previous year, according to the American Pet Products Association.

About two-thirds of that money was spent on food and traditional vet care. Spending on alternative care like chiropractic and other therapies came in at more than $12 billion.