Website Speed will be one of important factors that will play a major role in website rankings according to a latest update from Google Webmaster Central Team. Before this update, website Speed was not considered a ranking factor on Google. But now faster websites are good from user and search engine rankings prospective. So now we will need tool and ways to speed up our websites and blogs.

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There are some free tools you can use to check your website speed:
Page Speed
Page Speed is an open-source Firefox/Firebug Add-on. Webmasters and web developers can use Page Speed to evaluate the performance of their web pages and to get suggestions on how to improve them.
Yahoo! YSlow
YSlow analyzes web pages and suggests ways to improve their performance based on a set of rules for high performance web pages. YSlow is a Firefox add-on integrated with the Firebug web development tool. YSlow grades web page based on one of three predefined ruleset or a user-defined ruleset. It offers suggestions for improving the page’s performance, summarizes the page’s components, displays statistics about the page, and provides tools for performance analysis
Using Google Webmaster tool
We can track a website current speed using Google webmaster Central tool under Labs –> Site Performance. This page will show you website average load time and how is your website speed compared with other websites on internet. From this page, you can know about the speed of some of URLS and suggestions for speeding up your website URL’s. Here is an example of slow speed website:

Soon, I will be writing a post around how to speed up WordPress blog for better rankings in search engines.
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Yeah yesterday i read this news on google webmaster central.You are very quick to blog thanks for sharing here.
Yes, they are now factoring in the speed of our websites in terms of ranking. There is nothing more annoying than waiting, waiting some more to finally get a website to load.
Its important to monitor your sites activities and utilize some or all of the suggestions above. I would also recommend WP cache plugin to help your site as well.