PageSpeed Insights provides a tool to help site owners improve their sites for search engines by giving a speed grade on each page of their site. But there are no clear guidelines on how the PageSpeed Insights tool is used by Google.
Google uses page speed as a factor in ranking websites for certain search terms, especially when it comes to mobile and desktop. That said, Google does use other factors in its ranking, such as link authority and the quality of the content of a site. So, you should still try to improve the speed of your site, even if Google isn’t specifically penalizing sites with slow loading times.
If you’re concerned about the performance of your site, or if you’re looking for tips on how to increase the speed of your website, the answer is yes. Google PageSpeed Insights can be used to determine how well a site is performing and whether or not there are any changes needed to increase the speed and performance.