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That sounds very lean to me!! It should run about 14:1 to 15:1 cruising and on boost about 10:1 to 11:1 . Thats what mine does I'd get it checked asap!!
the lower the number the Richer it is, the higher the number the leaner it is.
but as said above if your car is doing that it wont stay together for long, if you have just fitted the gauge? check you have fitted correctly, and have you calibrated it?
If it's getting leaner on boost to that extent, then you either have a serious mechanical problem or you might have reversed the wiring or got the calibration very wrong.