What is the Google Speed Update? How will affect Page ranking?

Starting in July, Google announced a major change in its mobile ranking factors with speed being the most crucial factor in SEO. Google Speed Update aims to improve page loading speeds and use it as another ranking factor in mobile searches. With Google seeing the increased mobile usage in the past few years with technological development in mobiles and service providers, they want to ensure that users would be able to have a good experience accessing the mobile website which led to the Speed Update. Although mobile sites are highly accessible, some of them still have performance issues which cause speed and usability issues.
With the Google page Speed update, users would expect better –performing pages, leading to SEO companies focusing on their mobile optimization efforts more than ever.
Google Speed Update 1

How will it affect page ranking?

According to Google’s Zhiheng Wang and Doantam Phan wrote:
“The “Speed Update,” as we’re calling it, will only affect pages that deliver the slowest experience to users and will only affect a small percentage of queries. It applies the same standard to all pages, regardless of the technology used to build the page. The intent of the search query is still a very strong signal, so a slow page may still rank highly if it has great, relevant content.”
Google Algorithm Update:-
Google’s search algorithm and webmaster practices are the subjects of constant rumours, news, and evaluation.

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