I believe the long holiday at Christmas is more of a southern hemisphere thing as it aligns with summer and long school holiday breaks. Its equivalent being July/Aug holidays in the northern hemisphere. In a country like Germany there is little point in having a long domestic holiday in January. Might as well be working, kids in school and earning leave for when its nice weather to take holidays. There might be a week as a skiing holiday, but not large numbers taking time off causing everything to shut down for a month.
I therefore wouldn't be expecting Christmas to impact areas outside of Australia as heavily as you indicate. I might however expect EGR management to use it as an excuse because it would sound a sensible excuse.
I'm not sure what the holiday structure is for those countries closer to the equator that don't have massively different summer / winter temperatures. Its possible they don't have such a seasonal pattern.
EGR Price at posting:
8.0¢ Sentiment: None Disclosure: Held
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