The results of Sunday's legislative election confirm that this second term will be a different beast from the first, with Mr Macron cutting the figure of a chastened and greatly weakened leader.
Instead of being able to rely on (and basically therefore ignore) a compliant legislature, the president now faces a National Assembly which cannot guarantee the passage of his reforms.
Down by 100 or so seats, with only a relative and no longer an absolute majority, the once all-conquering head of state will be forced to negotiate with the opposition, notably the conservative Republicans (LR).
On some issues they will co-operate - for example on raising the pension age to 65 - but their support will come at a price. And by depending on LR, there will be the inevitable consequence for Mr Macron's supposedly centrist government that it will begin to look disconcertingly like a right-wing one.
Even within his own coalition, the president's position will be less sure.
Because under the constitution he cannot serve a third term, the question of succession is open. At some point we can expect allies like former Prime Minister Édouard Philippe, who commands a separate detachment of MPs, to start the sniping.
There are many who feel that Mr Macron has been the architect of his own problems.
He failed to seize the impetus provided by his presidential win in order to push for another majority in parliament
.
He barely seemed to campaign, and waited weeks before appointing a prime minister - Élisabeth Borne - whose undoubted talents cannot make up for her poor rapport with the voters.
Maybe from the very moment on Sunday, 24 April, when he learned he had a secured a second term, Mr Macron felt the uncomfortable weight of his position. That was certainly how it looked.
Yes, he had won five more years - but the history of second terms in the Fifth Republic has never been a happy one. And yes, he had a majority of the French behind him - but more out of rejection of the other than for love of him.
It was like he knew the best was over.
Emmanuel Macron a chastened and greatly weakened leader - BBC News