Texas Governor Rick Perry may be the first official casualty of the Iowa caucuses.

Perry  said tonight in his concession speech after his fifth place showing in the Iowa caucuses, he will leave the campaign trail and return to Austin, Texas, to take a few days off  to assess the results and "determine if there is a path forward for myself in this race."

The other Republican candidates, including Michele Bachmann who finished even further behind Perry, are continuing on to campaign in New Hampshire and South Carolina.

Perry gladhanded with voters for less than 10 minutes after the speech.  Staffers seemed deflated right before the speech, but for the most part, surprised about the decision.

Perry will return to Austin tomorrow morning.   His bus was supposed to head down to South Carolina this afternoon, but it did not.