As Tony Abbott was penning his final statement as prime minister, new figures were showing that consumer confidence had taken another dive.
Critically, the ANZ-Roy Morgan confidence gauge found expectations for the economic outlook are at their lowest levels since the depths of the global financial crisis seven years ago.
The findings are at odds with the economy that Abbott and his treasurer Joe Hockey had tried to portray.
But they do support Malcolm Turnbull's principal reason for successfully challenging Abbott for the Liberal leadership on Monday.
Turnbull argued that Abbott was incapable of providing the economic leadership and confidence business needs and has been demanding.
While Abbott said the economy under his leadership created about 300,000 jobs in two years, the number of unemployed Australians grew over the same period, which kept the jobless rate at close to a 13-year high of 6.3 per cent.
The budget also stands a long way from returning to surplus, government debt has increased and several key budget measures remain stuck in the parliament.
Others have yet to see the light of day in a legislative form.
The independent Parliamentary Budget Office recently estimated that unlegislated measures could cost the federal budget almost $75 billion over the next 10 years.
Then there is the string of reviews to complete and respond to - tax, federation, competition law and the financial system to name a few.
Until a new ministerial line-up is revealed, it is difficult to know where Turnbull stands on the GST, especially in light of hints Abbott made about an increase in the rate as part of a rejig of the tax mix.
Or whether the tax review will look at superannuation tax concessions, something both the outgoing prime minister and his treasurer repeatedly ruled out in this term of government or the next.
CPA Australia boss Alex Malley was a critic of the Abbott government, describing it as being in the same state of dysfunction as Labor's six years in power.
"Forget the fanfare and congratulatory slaps on the back - Malcolm Turnbull has a job to do and no time to waste," Malley said.
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