The Conference Board's US Consumer Confidence index rose to a new cycle high of 63.3 in May, from 57.7 (was 57.9) in April, 46.4 in February, and 56.5 in January. Yet despite the climb from the dismal February reading, we are still in recession territory, though we are at least now well above the 47.3 all-time low from before this cycle, seen in February 1992, and the pre-1992 record low of 50.1 in May 1980.