
Good speed and fast web experience is a must to lure visitors to your website.
To help understand the importance of speed, a preview of the Speed Report in Search Console at Google I/O 2019 was shown. And finally, after feedback from beta testers, Google New Speed Report has been rolled out for the public!
Websites with many pages can make finding potential user experience problems a bit difficult. To help overcome this issue, the Speed report automatically assigns groups of similar URLs to “Slow”, “Moderate”, and “Fast”. The data is provided in the Chrome User Experience Report which includes metrics for how real-world Chrome users experience different websites on the internet.

(Source: Google Webmaster Central Blog )
As can be seen, the URLs are classified by speed and the issue that causes it to slow down. You may dive further into slow URLs to help you understand the specific issue and prioritize performance improvements for them.
To get a better idea of the type of optimization needed for a specific URL, you can use the Page Speed Insight tool. It provides information on specific optimization opportunities.
The report can be used for both monitoring your performance over time as well as for tracking the issues that you fixed on your website. Additionally, the report can be used to track whether users experienced a performance improvement after fixing the issue of your website.

(Source: Google Webmaster Central Blog )
You can also understand which type of URL is performing better on your website by checking the moderate and fast buckets.
The new report within the Google search console is still in its experimental stage and will soon see major improvements in the metrics and recommendations for site owners. Google will monitor feedback submitted directly through the report as well as the user forum to improve the report to a great extent.