Consumer confidence improving

Consumers are becoming more confident about the economic recovery, according to a poll by the consulting firm Deloitte LLP. 

Over half of those surveyed (55 percent) said the economy has started to recover from the recession, and nearly two-thirds (64 percent) indicated that their household financial situation is the same or better than it was last year. 

"Consumers appear to be picking up on the signals that point to brighter days ahead," said Stacy Janiak, a vice chairman at Deloitte, in prepared remarks. "The majority of those surveyed indicate their net worth is stabilizing, if not improving." 

Despite the upbeat opinion, over half of respondents (54 percent) said rising energy prices would cause them to cut back on spending. Roughly 40 percent said spending would be cut if taxes were raised.

The survey polled 1,052 consumers between May 1 and May 3, 2010.