Thanks afternoon crew. End-of-day summary: Aussie shares...

Thanks afternoon crew.

End-of-day summary:

Aussie shares overcame early weakness as evidence of slowing economic growth bolstered expectations that interest rate cuts may not be far off.

The ASX 200 swung from a 29-point late-morning loss to a slender gain of nine points or 0.12%. Banks, REITs, utilities and energy producers were among the day's advances. Tech companies and miners dragged.

The market slowly reversed its losses following news that the economy expanded an anaemic 0.2% last quarter as Australians cut back on discretionary spending. Only strong migration and population growth kept the economy growing. Per-capita growth declined all of last year.

"On a per capita basis real consumer spending is down by a very large 2.4% over the year. Such an outcome would normally be associated with a large negative shock or recession," wrote Commonwealth Bank's economics team.

Tech stocks were the biggest burden on the index after the Nasdaq Composite slumped 1.65% overnight. The broader S&P 500 shed 1.02% ahead of Congressional testimony tonight from Federal Reserve Chair Powell and a string of employment reports.