Financial markets have given Australia's return to majority government the nod of approval, even though it could face a hostile Senate riddled with minor parties.
The share market rose 0.6 per cent in its first full day of trading after Saturday's election that saw Tony Abbott's Liberal-National coalition gain power - ending three years of a Labor-led minority government.
"It is a solid majority, which we hope will return politics and governance to more orthodox conditions," Australian Chamber of Commerce and Industry (ACCI) chief executive Peter Anderson said.
As vote counting continued on Monday, the Senate was on course to see a greater number of independents and minor parties from the July changeover next year.
"While it may not necessarily be an obstructionist Senate, it is a little unwieldy with individual negotiation needed with each representative," RBC Capital Markets head of strategy Su-Lin Ong said.
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Global credit-rating agency Standard & Poor's said Australia's triple-A rating was unchanged by the election result.
"We expect the new government to pursue a broadly similar fiscal strategy to the previous government, targeting narrowing budget deficits over time," S&P said in a statement.
Association of Mining & Exploration Companies CEO Simon Bennison said the new government's commitment to repealing the mining and carbon taxes will send an indisputable message to investors and decision makers that "Australia is open for business".
Senior Liberal Andrew Robb, who was shadow finance minister in opposition, again confirmed the coalition would ditch Labor's $1.8 billion fringe-benefits tax changes to cars.
It is "dead, buried and cremated", he said in a statement.
Economists expect that while the coalition's decisive win, giving it about a 32 seat majority, may give business and consumer confidence a fillip, the boost may not last.
JPMorgan chief economist Stephen Walters said there hasn't been consistent improvement in consumer-related activity after previous elections.
"There is no reason to expect one now, particularly with the jobless rate rising and household debt still high," he said in a note to clients.
Economists expect Thursday's labour force data for August will see the unemployment rate rise to 5.8 per cent, from 5.7 per cent in the previous two months, its highest in four years.
ANZ job advertisements data released on Monday fell by a further two per cent in August to near levels seen during the 2008-2009 global financial crisis.
ANZ chief economist Ivan Colhoun said the data was consistent with the unemployment rate continuing to trend modestly higher in the near term.
Other data showed the number of home loans taken out grew by 2.4 per cent in July to 52,204, the largest monthly number since October 2009.
Commonwealth Securities chief economist Craig James said housing has become one of the healthiest sectors in the economy.
"With interest rates low, population rising and housing affordability still attractive, housing is best placed to take over the leadership role from mining as the nation's key economic driver," he said.
