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Economy has gone to the dogs

A recent study conducted by the Research Group of New York, entitled US Pet Market Outlook 2009-2010: Surviving and Thriving in challenging Economic Times, found that high-quality pet foods and preventive medical care for pets could both see a boom, with 2009 spending reaching roughly $53 billion, a 6% increase from 2008.

Overall, the Research Group sees the US pet market enjoying 7.1% annual compounded growth between 2008 and 2013, up from 6.4% between 2004 and 2008. Not only will the growing industry defy harsh economic realities, but the care most pets receive could actually improve - more than you can say for most Americans.

-Excerpt from Minyanville article