By Chibuike Oguh NEW YORK (Reuters) – Global equities fell and the U.S. dollar advanced on Wednesday after stronger-than-expected economic data helped assuage concerns of high inflation and an impending recession driven partly by rising oil prices. A report by the Institute for Supply Management (ISM) showed U.S. manufacturing activity picked up in May as demand for goods remained strong even amid rising prices. The survey followed data released last Friday showing U.S. consumer spending, the largest contributor to American economic output, increased strongly in April, notwithstanding growing …