<strong>AMIT KARA </strong>UBS<br />We expect economic activity in the UK to expand by 1.1 per cent in 2010 instead of our earlier above-consensus forecast of 0.6 per cent. The UK will see an export-led recovery, which should benefit sectors such as pharmaceuticals, chemicals, aircraft manufacture and financial services. <br /><br /><strong>PHILIP SHAW </strong>INVESTEC<br />We have revised up our GDP forecast for 2009 to –3.6 per cent. It represents our first upward GDP revision since the credit crisis began. We are looking forward to heralding a recovery later in the year but will be hesitant to open the champagne for a while.<br /><br /><strong>MICHAEL SAUNDERS </strong> CITIGROUP<br />The worst may be over. However, the end of recession will likely not bring an end to the UK’s economic problems. Nor is recovery likely to be strong and robust. Even once recession ends, the UK’s financial system is likely to remain impaired and credit availability will stay poor.