Other way around in my estimation.
But that's the thing: a lot of development involves not writing any code, as you re-think your abstractions, plan the architecture of the next bits you'll write, debug what you've written, etc.
So I don't think we're necessarily talking about speed when we say that it's harder to read code than to write it. I think reading -- and truly understanding -- code (especially when it's someone else's, or even yours, that you haven't seen in a long time) can require quite a bit more mental effort than writing code.