Traders are looking ahead for a reading on Canada’s economic health during a holiday shortened trading week.

Statistics Canada will release its report on October gross domestic product before the markets open Tuesday. Forecasts suggest economists are looking for fairly modest monthly growth of about 0.2%.

Tuesday’s report marks the first broad indication of how the economy was doing at in the first month of the fourth quarter

In the second quarter, the economy contracted at a 0.7% annual rate. In the third quarter, it advanced at a 1.1% annual pace.

The weakness in the third quarter came largely from the dollar-sensitive export sector as well as a huge drawdown on inventories.

On Monday, StatsCan also releases its report on October retail sales. Consensus forecasts suggest economists are looking for a flat reading overall, after a decline of 0.8% in September. Excluding the auto sector, sales are seen climbing 0.2 per cent, erasing the previous month’s decline.

Also coming on Tuesday are wholesale trade numbers for October.

In the United States, Tuesday brings the final report on U.S. third-quarter GDP, and the University of Michigan consumer sentiment index for December.

Wednesday, Christmas Eve, will see the release of U.S. durable goods order for November.

As for earnings reports, Research In Motion Ltd. is the only Canadian company on tap to report financial results during the shortened Christmas holiday week. RIM is expected to ride its recent momentum to another solid quarter on Monday.

The rest of the week will be quiet, as traders take time off to celebrate the Christmas holidays. The Toronto Stock Exchange will close at 13:00 ET on Dec. 24, and remain shut on Dec. 25 and Dec. 26. Trading will take place on Dec. 31 but halt again on New Year’s day.

In New York, U.S. markets will be closed on Christmas Day and will close shortly after noon the day before and the day after the holiday.