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CHARLESTON, S.C. -- In a move that could shake up the Republican presidential race just two days before the pivotal South Carolina primary, Rick Perry announced on Monday that he is ending his White House bid and endorsing Newt Gingrich.

"I've always believed the mission is greater than the man," Perry said at a press conference here. "As I've contemplated the future of this campaign, I’ve come to the conclusion that there is no viable path forward for me in this 2012 campaign. Therefore, today I am suspending my campaign and endorsing Newt Gingrich for president of the United States.”

Perry instantaneously became the GOP front-runner upon entering the race in August amid a media fanfare and a flurry of enthusiasm from top GOP donors. But his candidacy deteriorated rapidly after a series of shaky debate performances that culminated in an uncomfortable 53 seconds onstage in Michigan when he repeatedly failed to recall the name of a government agency he intended to eliminate as president.

The Texas governor said Thursday that he will return to his home state and continue to work for the causes on which he based his presidential run.

“As a Texan, I’ve never shied away from a fight, particularly when I’ve considered the cause to be righteous,” he said. “This I know: I’m not done fighting for the cause of conservatism. As a matter of fact, I have just begun to fight.”

Perry’s endorsement of Gingrich could prove critical here in South Carolina, where the former House speaker is seeking a come-from-behind victory that would keep him in the running for the nomination against Mitt Romney, who remains the national front-runner.

Gingrich released a statement on Thursday saying that he was “humbled and honored” to have Perry’s support.

“South Carolinians have a chance this Saturday to nominate a bold Reagan conservative who will offer a dramatic contrast with President Obama this fall in the general election,” Gingrich said. “I ask the supporters of Governor Perry to look at my record of balancing the budget, cutting spending, reforming welfare, and enacting pro-growth policies to create millions of new jobs and humbly ask for their vote.”

Perry was polling in the single digits in the Palmetto State, but his full-throated backing of Gingrich could help the former congressman consolidate the conservative vote by portraying himself -- and not Rick Santorum -- as the only viable long-term challenger to Romney.

In his own statement, Romney praised Perry for having run a campaign “based upon love of country and conservative principles” and said that the Texas governor has “earned a place of prominence” in the Republican Party.

“The nation owes Governor Perry a debt of gratitude for his years of service to his state and country,” Romney said.