Technorati publish quarterly State of the Blogosphere reports. They revealed the findings of their most recent review just before the long weekend. You can read the whole the whole report here. You can also get all the information from past State of the Blogosphere reports going back to October 2004.
If you just want a quick summary here are some of the findings:
70 million weblogs
About 120,000 new weblogs each day, or...
1.4 new blogs every second
3000-7000 new splogs (fake, or spam blogs) created every day
1.5 million posts per day, or...
17 posts per second
Growing from 35 to 75 million blogs took 320 days
Japanese the #1 blogging language at 37%
English second at 33%
Chinese third at 8%
Italian fourth at 3%
Farsi a newcomer in the top 10 at 1%
Tracking 230 million posts with tags or categories
35% of all February 2007 posts used tags
2.5 million blogs posted at least one tagged post in February
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