Monthly Market Recaps

September PMC Monthly Market Recap

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© 2025 Envestnet, Inc. All rights reserved. For one-on-one use with a client's financial advisor only. International GDP Growth International GDP growth is likely to be impacted by tariffs and governments' efforts to retaliate against them or mitigate their effects. China faces tariffs and trade restrictions that may be difficult for the country to entirely ameliorate, despite a temporary trade truce. Japan and the Eurozone have secured trade deals, though. China and many of the Eurozone countries are loosening fiscal policies to offset tariff risks and support domestic demand for goods/services. The European Central Bank and the People's Bank of China have eased monetary conditions, too. Japan has focused more on trade negotiations with the US, but they have been difficult. Details of the US/Japan trade agreement remain unsettled. Source: Bloomberg; Envestnet Quantitative Research Group (QRG). Eurozone 1.50% China 5.20% Japan 1.70% -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% 6/05 6/10 6/15 6/20 6/25 Eurozone GDP Growth China GDP Growth Japan GDP Growth 20251003-4872948

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