Dave Sweas: Dodson Group CEO on the GDP figures set to be released

An Auckland manufacturer is feeling good about the current economic position. 

GDP figures are due to be revealed this morning.  

Economists and the Reserve Bank are expecting 0.7% growth for the first quarter of the year – slightly higher than the 0.4% predicted earlier this year. 

Dodson Group CEO Dave Sweas told Ryan Bridge things turned a corner around February and March. 

The precision manufacturers boss says there's been some trepidation about what's coming out of the US, but overall order books are holding up strong. 

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Episode Transcript

Speaker 1 (00:00):
While we watch and waits Trump and his comments on

(00:03):
the situation in the Middle East. He's done a media
stand up a short time ago. Katie Fisher, a US
correspondent with US Katie, what's he saying?

Speaker 2 (00:12):
Well, he's not doing anything to end this speculation as
to whether or not the US is going to go
in and help Israel. Then it's strikes.

Speaker 3 (00:20):
We get quarter one GDP data out today.

Speaker 1 (00:22):
We were expecting an increase of point four that's according
to the economists. Now they reckon something more like point
seven for the quarter. Manufacturing data looks strong for quarter one,
but things are potentially more dicey for quarter two. David
Sways is the CEO of Dodson Group. This is a
manufacturer seventy five staff across three manufacturing plants in Auckland

(00:45):
and is with us for the lowdown. David, good morning,
Thanks for having me on RAN.

Speaker 3 (00:50):
Great to have you here. So you're a manufacturer, you're
an exporter. It's a niche market. Can you just give
us an idea of what it is you do?

Speaker 2 (00:59):
Yes, known for the dots in line of high performance
car parts that we make here in Auckland and we
distribute internationally. So those are those are transmission parts, so
they're upgrade parts to make kind of fast cars faster.
And then we also manufacture precision components for other UH
other New Zealand UH manufacturers and exporters, so things like

(01:21):
precision precision metal parts, gears, gearboxes. So we're really kind
of on the front end of the economic cycle and
we get a get a good look early. We're usually
kind of six months ahead of you know, kind of
the data that's coming out in the news and what
the central banks point notes. We we get a good
kind of early look at what's happening in the economy.

Speaker 3 (01:41):
Does that mean right now things are actually okay for you?

Speaker 2 (01:46):
Yeah? I mean look for us, I would say things
probably turned a corner in like February March time print,
and we actually feel pretty good about what's happening out there.
I know, you know, there was the weak print on
the p M I last month, and that's a prised
us a little bit because you know, it hasn't shown
up in the order book. I think maybe there was
there's been some trepidation on you know, what's coming on

(02:08):
to the US, But I think overall, I mean, you know,
order books are holding up pretty strong, and uh, you know,
for the good news out of this GDP print is
that you know, wages worked have been about flat and
I know that doesn't sound good for workers, but that
that implies productivities up and and that's good for the

(02:28):
economy and that's good for the standard of living of
New Zealand. To see that productivity, uh, you know, back
on it on the type of of curve and type
of increase that we want to see. So and I
think any business you know, who who who, uh you know,
had their head in the right place over the last
two years when things were slow, was investing in the

(02:48):
business to try to come out you know with a
productivity increase on the other side whence things picked up.
And I know that's certainly certainly where we're at right now.

Speaker 1 (02:57):
That's fantastic to hear and certainly reflect than that survey
we saw from two Degrees this week how businesses are
feeling about productivity, which is always one of our big problems.

Speaker 3 (03:07):
David appreciate that. David spaz CEO of Dodson Group.

Speaker 2 (03:11):
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