(Correcting sixth paragaph to say outlays fell instead of rose) (Adds details)

WASHINGTON, Nov 12 (Reuters) - The U.S. government began fiscal year 2010 with a record shortfall for the month of October, after posting a record $1.4 trillion budget gap for the 2009 budget year, the Treasury said on Thursday.

The Treasury Department, in its monthly budget statement, posted a $176.36 billion budget gap in October, the fifth largest deficit for any month. That exceeded both Wall Street analysts' expectations for a $150 billion deficit, and the $155.5 billion gap in October 2008.

The report for October pointed to a growing gap between government spending and income at a time when a fragile economy is beginning to emerge from the steepest recession in 70 years.

The federal budget year starts on Oct. 1.

The government has now posted a budget deficit for 13 straight months, the longest string of deficits on record, the Treasury said.

In October, outlays fell to $311.69 billion compared with $320.38 in October 2008, while receipts totaled $135.33 billion, down from $164.85 billion in the same month a year ago, the department said.

The Treasury also said it bought $7.8 billion worth of mortgage-backed securities from housing finance agencies in October compared with $21.5 billion in October 2008.