"Unrelenting cost pressures highlight that it's tough going. Cost and inflation pressures intensified further in October."
A net 87 per cent of firms reported higher costs, and nearly two-thirds of respondents were planning to raise prices.
Firms expected to increase exports and investment but were slightly less positive about their profit outlooks and hiring staff.
"Despite living week to week to some extent, firms appear to be getting on with it as best they can," Zollner said.
She said Auckland firms appeared to be holding up "surprisingly well", and forward-looking expectations and intentions remained positive.
"The resilience of Auckland businesses is impressive but this survey won't capture cumulative balance sheet damage."