Wednesday, August 08, 2012

Pet Ownership is Down

Pet ownership fell slightly over the past five years, according to the American Veterinary Medical Association's 2012 U.S. Pet Ownership and Demographics Sourcebook, to be released this fall. A smaller percentage of households owned dogs or cats in 2011 than in 2006, due in part to belt-tightening during the Great Recession.

The latest survey results show 36.5 percent of households owning dogs (1.6 on average) and 30.4 percent owning cats (2.1 on average) in 2011. The AVMA reports that spending on veterinary care for dogs increased 19 percent between 2006 and 2011, while remaining flat for cats. My analysis of spending trends from the Bureau of Labor Statistics' Consumer Expenditure Survey shows average household spending on veterinary care rising sharply between 2006 and 2009, after adjusting for inflation, then plunging 32 percent between 2009 and 2010.

No comments: