It's not the dancing in the streets Malcolm Turnbull would have been hoping for following the federal election.
Consumer confidence has slipped after the inconclusive poll result, casting a shadow on the strength of future household spending.
The latest ANZ-Roy Morgan weekly confidence index fell 0.9 per cent, extending the decline of the previous week that was in reaction to the financial market turmoil as a result of Britain voting to leave the European Union.
ANZ head of Australian economics Felicity Emmett expects confidence could fall further if the Turnbull government fails to secure a majority and a minority government proves difficult to form.
"This uncertainty around the political outlook will likely remain a key influence on household confidence in the near term," she said.
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The Australian Electoral Commission has resumed the vote count on Tuesday.
Labor frontbencher Andrew Leigh believes the deadlocked election offers the opportunity for the two major parties to work together on key issues such as taxation and climate change.
"I'd really like to see it," Dr Leigh told Sky News, but added that would need the "Malcolm Turnbull of old".
However, the shadow assistant treasurer said it's not clear whether Mr Turnbull has the political power to stay prime minister.
The world's three major credit rating agencies have been quick to express their concerns should the political gridlock result in further delays in getting the budget back to balance, saying it is a threat to the nation's top-tier triple-A rating.
Dr Leigh said a downgrade would probably flow through to raising the cost of credit, "not just for the government but also for businesses and homeowners".
A lower rating potentially raises the cost of borrowing abroad for companies and banks.
The Reserve Bank is expected to stand aloof from the political mayhem and keep the cash rate at a record low 1.75 per cent at Tuesday's monthly board meeting.
However, economists believe the cash rate could be cut to 1.5 per cent at the August board meeting if official inflation figures later this month continue to prove extremely benign.
