Ireland and Spain are among the fastest growing economies in the Eurozone. Investors interested in gaining exposure to the strengthening markets can utilize country-specific exchange traded funds.
Ireland announced a delayed first quarter results, revealing a 1.4% month-over-month growth, with an impressive 6.5% annual growth rate, Reuters reports.
The Irish economy expanded by an upwardly revised 5.2% in 2014, its best performance since 2007, and the country’s economy is now larger than at the height of its so-called Celtic Tiger boom.
Ireland’s central bank pointed to support from domestic demand as robust retail sales and an improved labor market bolstered the economy.
“It is quite clear that Ireland will easily top the euro zone growth league table for the second-year running,” Merrion Stockbrokers’ chief economist Alan McQuaid said in the Reuters article. “Growth is now more likely to be in the 5 to 6 percent range for 2015, a positive boost for the government ahead of next year’s general election.”
In contrast the Eurozone is expected to eke out an overall annual growth of 1.0%, with Germany slightly ahead at 1.1%. [As Greece Risks Fade, Overweight Europe ETFs Back in Play]
For Italy exposure, the iShares MSCI Ireland Capped ETF (NYSEArca: EIRL) increased 18.5% year-to-date.