How do Methodists understand the Apostle's Creed? In Methodist churches, I usually see the following:


  I believe in the Holy Spirit,
    the holy catholic church,
    the communion of saints,
    the forgiveness of sins,
    the resurrection of the body,
    and the life everlasting. Amen.   


What do "holy catholic church" and "communion of saints" actually refer to?  Also, regarding the phrase "I believe in the Holy Spirit", what is the view on that? Shouldn't our belief be in Jesus Christ?
The Phrase "Holy catholic Church" does not refer to the Roman Catholic church, but to the "universal church", i.e. all true Christians, whatever earthly religious organization they belong to. The word 'catholic' just means universal. That and the "Communion of Saints" refers to a belief in the essential unity of all true Christians, whatever disagreements they currently have.

Methodists, along with most Christians believe in a God who is a Trinity; three persons in one God: Father, Son (Jesus) and Holy Spirit. The Holy Spirit is as much God as the Father or the Son, and is believed in just as much.

EDIT: The text you quote is only the last part of the Apostle's Creed, the whole of which also includes statements of belief in the Father and the Son. The full text can be found here, in several very-close versions. The Church of England Common Worship version is probably closest to what Methodists would accept.