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NATIONWIDE -- The economy might be slow, but one thing Americans refuse to pinch pennies on is their pets.

According to the American Pet Products Association, pet owners spent more than $53 billion on their animals in 2012. That's up five percent from 2011.

Around two-thirds of that total was spent on food and vet care for pets. Spending on grooming, boarding and pet sitting also rose nearly ten percent.

The growing market in pet care seems to be alternative care, including acupuncture for pets, which raked in about $12.5 billion.