Resurging Europe

"Break out the champagne - Europe to grow faster in 2006,” so says the European Commission (EC).

In a much more upbeat report than any in recent times, the EC projects 2.2% GDP growth for the 25-nation European Union, with the 12-nation, euro-based Eurozone hitting 1.9%, courtesy of beefier corporate profits and higher investment.

Breaking down the individual nations’ growth, Germany finally looks set to hit a more respectable level of expansion at 1.5%. Spain is slated to come out on top at 3.1%. The economies of the UK, France and Italy are forecast to grow 2.4%, 1.9% and 1.3%, respectively.

Wish to invest in Europe? The San Francisco-based firm, Barclays Global Investors (BGI) provides several exchange traded funds (ETFs) based on Index tracking investment markets of several countries: Austria (EWO), Belgium (EWK), European Monetary Union (EZU), France (EWQ), Germany (EWG), Italy (EWI), Netherlands (EWN), Spain (EWP), Sweden (EWD), Switzerland (EWL), United Kingdom (EWU), S&P Europe 350 Index Fund (IEV).

Another way to invest in Europe is through a bucket of American Deposit Receipts of European Companies: BLDRS Europe 100 ADR Index (ADRU) offered by Nasdaq and the Bank of New York.