According to Jinshi, Jeffrey Roach, chief economist of LPL Financial, said in a report that the slowdown in U.S. residential construction will further ease the price pressure of commodities such as lumber. Housing data in May was lower than expected, with new home starts shrinking by 5.5%. Roach said: "Weak demand and easing inflation should allow the Fed to start cutting interest rates later this year." He pointed out that the data showed a slowdown in the residential GDP component in the second quarter.