The CONCURRENT_ITEMS section at http://doc.scrapy.org/en/latest/topics/settings.html#concurrent-items defines it as:
Maximum number of concurrent item
The CONCURRENT_ITEMS
setting refers to limiting the concurrent activity when processing items from the spider output. By concurrent activity, I mean what twisted (the underlying framework used by Scrapy) will do concurrently - usually it's stuff like network requests.
Scrapy does not use multithreading and will not use more than one core. If your spider is CPU bound, the usual way to speed up is to use multiple separate scrapy processes, avoiding any bottlenecks with the python GIL.