Gary Haber reports "an explosion in spending on pets that runs the gamut from organic food to aromatherapy to hip replacements."
The American Pet Products Manufacturers Association forecasts Americans will spend $40.8 billion on their pets this year, nearly double the $21 billion dished out in 1996. This year's tab will include $16.4 billion for food, $9.9 billion for supplies and over-the-counter medications and $9.8 billion for veterinary care.
Pet ownership is at an all-time high, with 71.1 million households in teh U.S., or 63 percent, owning at least one animal, the group says.
Me: I find this report absolutely astonishing.