Election, S&P a test for confidence

The weekly ANZ-Roy Morgan consumer confidence gauge will take in the response to S&P threatening to cut Australia's credit rating.

There's still uncertainty over how the economy will perform under the re-elected Turnbull government (AAP)

The federal election may have been decided a week after polling day, but there is still great uncertainty over how the economy will perform under a re-elected Turnbull government.

The latest weekly consumer confidence reading due to be released on Tuesday will capture some responses to the election being resolved on Sunday and will also be a first take on global rating agency Standard & Poor's threatening to cut Australia's triple-A rating.

Moody's Investors Service has since also warned that the make-up of the new parliament after a tight election which has resulted in an expanded crossbench in the Senate is a concern for the future passage of budget measures.

The ANZ-Roy Morgan confidence gauge has fallen in the past two weeks - first hit by the fallout from Britain voting to leave the European Union and then compounded by the lack of an immediate result to the July 2 election.

Consumer confidence is a pointer to future household spending.

National Australia Bank will also release its monthly business survey for June.

In May, business confidence eased amid uncertainty over the election and despite an interest rate cut and a pro-business federal budget in that month.