Python : else clause on loop

In python, like in several other languages, break and continue statements exist to control execution flow. But when it comes to else, it is something new :

for item in itemList:
    if item == 'DeveloperLogBook':
        print 'Item found'
        break
else:
    print 'Item not found !'

On the example above, else applies to for loop if it terminates "through exhaustion of the list".

Note: With a while loop, else applies if the condition assertion of while is false.

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