A clearer picture on the health of the Canadian economy could emerge Tuesday, with the release of the first-quarter gross domestic product.

The report is expected to show that economic activity picked up at the start of the year from a sluggish fourth quarter.

Real GDP is seen rising to 2.5% in the first quarter from 1.7% in the fourth quarter, driven by higher consumer spending.

“This headline estimate … masks the apparent split personality of the Canadian economy,” said Carl Gomez, an economist at TD Securities, in a written commentary.

“While domestic demand is expected to surge … the external side of the economy is likely to once again drag overall growth down considerably.”

On Monday, Statistics Canada releases the industrial product and raw materials price indexes for April. Economists expect increases of 0.6% and 1%, respectively.

Separately, StatsCan reports on the balance of international payments for the first quarter. Economists expect a surplus of $3.4 billion.

In the U.S., stock markets will be closed on Monday for the Memorial Day holiday.

But a key jobs report is due Friday with the release of non-farm payrolls for May. Economists expect the U.S. economy added 180,000 jobs for the month, with the unemployment rate holding steady at 5.2%.

On Tuesday, the Chicago arm of the National Association of Purchasing Managers releases its index of manufacturing activity in May. Economists expect a reading of 62.

As well, the U.S. Conference Board releases its consumer confidence index for May. Economists expect a reading of 96.3.

On Wednesday, the U.S. Commerce Department reports on construction spending in April. Economists expect an increase of 0.7%.

The U.S. Institute for Supply Management releases its index of manufacturing activity in May. Economists expect a reading of 52.2.

On Thursday, the U.S. Labor Department reports on initial jobless claims for the week ending May 28. Economists expect 325,000 new claims.

Separately, Labor releases revised productivity and unit labour cost figures in the first quarter. Economists expect annualized increases of 3% and 2%, respectively.

Meanwhile, the U.S. Commerce Department reports on factory orders in April. Economists expect an increase of 1%.

On Friday, the U.S. Institute for Supply Management issues its services index for May. Economists expect a reading of 60.1.

Bank earnings season will wrap up in the coming week when Bank of Nova Scotia reports is it results on Tuesday, and Canadian Western Bank reports Thursday.

Bombardier Inc. opens the books on its latest quarter on Wednesday.