I've got a site that's showing a 9% CTR for a phrase in Google Webmaster Tools, but the average position for my site is 14th (this includes 7 local results for this phrase).

I was a little confused as to what the CTR actually meant, is it :

• for each person who searches for that phrase 9% of them click my site.

or

• for each person who actually sees my site in the search results 9% of them click through (bearing in mind 14th is high on page 2 when the local listings are used).