In the language reference, section "7.11 The import statement" is is explained in the example section:

   import foo.bar.baz         # foo.bar.baz imported, foo bound locally

When looking at "5.3. Searching", it is stated that regarding foo.bar.baz:

   In this case, Python first tries to import foo, then foo.bar, and finally foo.bar.baz.

I find this confusing.  Assuming that 5.3 is correct, the examples in 7.11 could be improved, like, for the sample line mentioned above:

   import foo.bar.baz         # foo, foo.bar and foo.bar.baz imported, foo bound locally