The level of investment in farm buildings is holding up pretty well, considering the COVID-19 pandemic has slowed down economic activity. The greatest level of investment is driven by dairy herd expansion and conversions to dairying. This has showed no signs of slowing, with the Irish national dairy herd set to expand by 40,000 to 50,000 more cows in 2020.

This is underpinning spending, particularly on new parlours and robotic milking machines, feed storage areas, additional cubicle places and slurry storage capacity.